NEW YORK (TheStreet) -- Skyworks Solutions (SWKS) shares are climbing 6.4% to $40.45 in after-market trading today following the release of the company's first quarter 2014 earnings report.
The analog semiconductor manufacturer posted revenue of $481 million in the quarter, a year over year quarterly increase of 13%, beating analysts consensus revenue estimates of $470.25 million.
The company surpassed its own guidance by posting operating income of $130.4 million, or 62 cents per share, 3 cents higher than its guidance.
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TheStreet Ratings team rates SKYWORKS SOLUTIONS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SKYWORKS SOLUTIONS INC (SWKS) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."